The invention relates to a strapping type of wallet well known in the industry. Examples of strapping wallets and paper bill folders and holders are as follows:
1. McKay patent, U.S. Pat. No. 1,326,602. PA1 2. Sutter patent, U.S. Pat. No. 1,580,346 PA1 3. Hughes patent, U.S. Pat. No. 1,833,881. PA1 4. Trussel patent, U.S. Pat. No. 1,973,420. PA1 5. Traugott patent, U.S. Pat No. 4,010,787.
The above mentioned wallets contain paper bills through the use of (a) strap(s) that restrain the center of the bill to one side while folding the ends of the bill through Corresponding straps. Often the bill is torn when it is being contained or enclosed within these straps, especially if the wallet is sized down to fit the paper money it encloses.
In the development of The Money Trap Wallet, the inventor, Mr. Bibb, conducted much study of the Traugott patent and the Sutter patent wallet designs and their practical uses. After hundreds of trails, Mr. Bibb realized several limitations within the design. The main limitation is that the size of the wallet cannot be reduced to the approximate size of the bill or the paper money, because a tearing of the bill would often result. Each effort of patterning a wallet after this patent caused the bill to be torn at the straps. Mr. Bibb noticed that the "X" design caused a stress buckle to occur from the center of the bill to its exterior when the wallet is made small. When no crisscross or "X" format was used for the straps, as in the Hughes patent, the bill would also tear. The Hughes wallet used straight straps, which did not cause the stress buckle, but instead caused the bill to snake through the straps, tearing the bill approximately on inch off center on either end. Also, each of these designs would tear a new bill or paper receipts when enclosing them.